NEW YORK, December 21, 2017 /PRNewswire/ --
According to New FrontierData, the legal cannabis market was worth an estimated $6.6 billion in 2016, and is projected to grow at a compound annual growth rate (CAGR) of 16% to reach over $24 billion by 2025. The medical
Major markets for the cannabis industry, such as the state of California, are expected to become examples of how to manage the new and growing cannabis industry. Giadha Aguirre de Carcer, New Frontier Data CEO, explained, "Significant changes are already underway in California for medical cannabis and adult use laws, which we see will have major implications for the cannabis industry, including ecommerce and delivery services in the state… As the largest state in the country - and the largest potential market for cannabis products - the implications for the growth of the industry because of California's adult use market cannot be overstated."
Pivot Pharmaceuticals Inc. (OTCQB: PVOTF) also just listed this week on the Canadian Stock Exchange under the Ticker 'PVOT'. Yesterday the company announced breaking news that, "the Company has signed a Binding Letter of Intent to acquire ERS Holdings, LLC ("ERS"), a privately-held California company. ERS has developed a patented technology called "RTIC" - Ready To Infuse Cannabis ("the Patent"), and has also filed several continuation patents relating to the transformation of cannabis oil into powder for infusion into a variety of food and beverage products such as capsules, K-Cups, stick packs, baked mixes, liquid shots, protein shakes, topicals, lotions, and bottled beverages.
In exchange for 100% of ERS Holdings, LLC (Patent Portfolio and Trademarks for "Instant THC™" and "Instant CBD™") Pivot will pay ERS Holdings USD $1,000,000 and 5,000,000 Common Shares ("The Shares") of Pivot Pharmaceuticals Inc. The Shares will be subject to a six (6) month restriction with the first 25% of the total number of Shares to be released six (6) months following the closing date, with 25% to be released every quarter thereafter, as per the escrow agreement to be executed at the same time as the Definitive Agreement. Completion of the acquisition is subject to regulatory approval and standard closing conditions.
Current cannabis product formulations are either poorly absorbed topicals and orals or inhaled and smoked carcinogens. Health conscious adults who seek the therapeutic benefits of cannabis without the negative health effects represent a large untapped demographic. This demographic is also inundated with edible product choices that are high in sugar, such as candy or confectionary. Health seeking consumers who use cannabis daily represent a large market opportunity for Pivot. The acquisition of ERS allows Pivot to add to its growing pipeline of cannabis based products.
Invented by Ross Franklin and Ed Rosenthal, the invention "relates generally to methods and compositions of matter for enabling concentrated cannabis oil to be stable, emulsifiable and flavorless for use in hot beverages or food by combining cannabis oil with a starch powder or starch-derived powder. Embodiments also relate to a variety of culinary uses for the stabilized, emulsified, flavorless concentrated cannabis oil powder."
Mr. Franklin, ERS' CEO, said that "after being courted by some of Canada's largest cannabis companies, we selected the Pivot team to help monetize our patent. Their management team has extensive pharmaceutical and nutraceutical industry experience and an impressive track record of bringing products to market. In addition to the food and beverage markets, we also look forward to integrating "RTIC" into Pivot's current topical, oral and nanoparticulate pipeline."
Dr. Patrick Frankham, CEO of Pivot Pharmaceuticals stated that "Pivot believes that the anticipated changes in cannabis regulation in Canada and California will provide an opportunity to launch multiple products into the healthcare and recreational markets in 2018. We are delighted that Ross Franklin and Pat Rolfes from ERS have chosen Pivot to help transform their patents and processes into therapeutic consumer goods. Pivot is in ongoing discussions with several Canadian Licensed Producers and Licensed Dealers in order to accelerate commercialization of our large pipeline of technology driven products. If a suitable joint venture partner is not identified by January 2018 Pivot will seek a Licensed Dealer designation from Health Canada and commence construction of its own production facility. As a result, Pivot has engaged CBRE, the world's largest commercial real estate firm, to help facilitate the site selection process."
Emblem Corp. (OTC: EMMBF) is a fully integrated licensed producer and distributor of medical cannabis and cannabis derivatives in Canada under the ACMPR (Access to Cannabis for Medical Purposes Regulations). On December 18th, the company announced the launch of four cannabis oils that can now be ordered online or by phone from its award-winning customer service team. "We are particularly excited by our CBD oils," says Nick Dean, CEO of Emblem Corp. "CBD is not psychoactive, and a recent report from the World Health Organization suggests CBD to be an effective treatment for epileptic seizures, amongst a number of other medical conditions. Physicians are increasingly turning to CBD-rich strains for their patients." Namaste Technologies Inc. (OTCQB: NXTTF) is an emerging leader in vaporizer and accessories space. Recently, the company announced a Letter of Intent with Supreme Pharmaceuticals Inc. The LOI, signed by Supreme's wholly owned subsidiary, 7ACRES, and Namaste's wholly owned subsidiary, Cannmart Inc. ("CannMart"), provides that Supreme will supply CannMart with a premium range of high quality dried cannabis flower which will be offered in the Company's medical marketplace. Supreme is focused on producing high quality cannabis through a commitment to carefully curated genetics, quality focused cultivation practices and a post-harvest process that includes a 14-day whole plant drying process and hand finishing of each flower. Under the terms of the LOI, Namaste has committed to work with Supreme as a preferred vendor as related to possible branded partnerships, in addition to supply for Namaste's in-house branded medical cannabis. All Supreme cannabis will bear the 7ACRES producer's mark. Namaste believes that Supreme's Business to Business (B2B) distribution model fits well with Namaste's focus on becoming Canada's leading online retailer for medical cannabis. Cannabis Wheaton Income Corp. (OTCQB: CBWTF) is the first cannabis streaming company in the world. On November 1, 2017, the company announced the closing of the acquisition of all of the issued and outstanding shares of RockGarden Medicinals (2014) Inc. pursuant to the terms of a definitive share purchase agreement dated October 31, 2017. The Acquisition furthers the Company's streaming platform strategy by providing the Company additional resources and regulatory tools to help accelerate Wheaton Licensing Program participants' pathway to licensing under the Access to Cannabis for Medical Purposes Regulations (the "ACMPR"). Located in Carleton Place, Ontario, RockGarden is a privately owned licensed producer of cannabis pursuant to the ACMPR. On August 25, 2017 RockGarden was granted a cultivation license. Emerald Health Therapeutics Inc. (OTCQX: EMHTF) subsidiary Emerald Health Botanicals Inc. is a licensed Producer under Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR") and is authorized to produce and sell dried medical cannabis flower and medical cannabis oil. On November 29th, the company announced that its licensed producer application, submitted through Emerald Health Botanicals for its new Richmond, BC greenhouse facility under Canada's ACMPR has met the requirements of the paper-based review of Health Canada's Office of Medical Cannabis ("OMC"). The OMC confirmed satisfactory provision of information regarding the security plan, record keeping and tracking systems, QA reports, and security clearance for key personnel, among other items. Emerald aims to harvest from this new 75,000 square feet of cultivation space by 3Q 2018 and plans to have over 500,000 square feet of cultivation space built at this site by year end. "With significant, secure supply from our large-scale Pure Sunfarms partnership and Emerald facilities, and our value-added product development plans, we intend to be well-positioned for growth in the adult use market in the near and long term," said Dr. Avtar Dhillon, Executive Chairman of Emerald.
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